Noob needs to learn more - what books do I need? - Page 2
Page 2 of 505 FirstFirst 1234 ... LastLast
Results 11 to 20 of 41

Thread: Noob needs to learn more - what books do I need?

  1. #11
    I am searching for book which may explain how to exchange profitable when we're emotionally down.

    Any aid?

  2. #12
    Books... I have read many of these. I would say no publiion can make you a trader. Plus, you can get a lot of stuff from several good websites like fxstreet and babypips.

    In reality trading is a combination of math, plogy along with a setup itself. Setup is probably the most easy to develop/understand.

    Alright... some books that you may want to read.

    Money Management

    McDowell - A Trader's Money Management System: How to Guarantee Profit and Prevent the Risk of Ruin.

    Essential knowledge about math and how to survive in this game. Don't fight with the math! Even though a lot of these very similar stuff is easily found on the web. Nothing new. Position sizing, risk of ruin, etc..


    Steve Ward - High Performance Trading: 35 Practical Strategies and Techniques To Enhance Your Trading Plogy and Performance

    Very practical and with a few Fantastic advice. If you want one book on plogy then that is it. There are timeless books by Mark Douglas and Brett Steenbarger, but I find them way too theoretical and long. Those are good if you want some advanced knowledge. However, the trading plogy is all about trading, getting to know yourself, adjusting yourself and your trading platform based on that knowledge.

    Max Gunther - The Zurich Axioms

    Really good book about mindset. Not only trading, but earning money by speculating in almost any area (arts, investing, property ).

    Mike Bellafiore - One Great Trade Inside the Highly Competitive World of Proprietary Trading

    Great book about mindset and what it takes to succeed. They've also a fantastic blog

    Forex Trading
    Ed Ponsi includes two good books on Currency Market.

    1. Forex Patterns and Probabilities: Trading Strategies for Trending and Range-Bound Markets

    2. The Ed Ponsi Forex Playbook: Strategies and Trade Set-Ups

    Both books are not just for beginners. There are a few innovative things (COT report, various market indiors such as TED, LIBOR). Great for general Currency Market eduion.

    Kathy Lien - Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves

    Again a Fantastic book for general Currency Market eduion. Might be the most effective general Currency Market publiion.


    Reading what traders and money managers say is almost always a fantastic thing. And if you read carefully and make notes... Again it's all about mindset and what it takes to succeed.

    Market Wizards books by Jack D. Schwager.
    Two books by Steven Drobny.

    I won't suggest any books on technical analysis and trading setups. Well... you can easily develop your setup based on the info that you discover on the web. There are nothing magic in publiions.

  3. #13
    Quote Originally Posted by ;
    There's only so much you can learn from reading. I understood that although reading has its own advantages it may also be detrimental to your trading.

    If you have found something that works just stick to it and attempt make yourself constant. When you know the basics of these markets. Reading this and only sets more confusion on mind whenever you're preparing to pull the trigger,

    I have understood that reading is great but stick to a couple of different things rather than complete varied ways to exchange. [b]Another stuff may be tools in your arsenal...
    This is how I feel about reading heaps of books on trading. I have read many my personal opinion is that each one of the egies taught are mediocre and those who really are good demand huge accounts and are on no account intended for'small time traders'. There's a heck of a lot of discretion in both the TA and FA egies and every publiion will of course supply it's own standpoint and regurgitate common information (eg every publiion will give it's 2cents on leading and lagging indiors, fibs, pivots, S/R lines, index and equity markets significance, cot, news trading). . .after reading a number of your thoughts really gets clouded.

    I really do consider an aspiring trader can learn more on investopedia, babypips, and forexintuitive than in many, if not all of books on trading. I can honestly say that I have learnt every thing and more onforexintuitivethan I've in many books, and a learning trader should treat all sources of information, whether from books or forums like this, as a banquet of info bits, where you choose your own set of tools and discard everything which doesn't help, to create and configure your own method of trading which fits your style and many significant makes complete sense to you , instead of attempting to learn another method you might not entirely'gel well' with and be unable to get'into the zone' of trading as Mark Douglas would put.

  4. #14
    After some thinking I remembered one publiion which may be useful:

    Corey Rosenbloom - The Entire Trading Course: Price Patterns, Strategies, Setups, and Execution Tactics

    That is all about knowing price, indiors. All you have to begin creating your trading setup.

    But again... you don't have to buy books. Http://
    It has all the understanding that one trader maybe needs.

    Some quick tips for newbies:
    Understand why you wish to trade comprehend probabilities, cash management - you won't succeed without this. Understand price, trend - learn to see a fad, learn how trends continue and change, learn basic support resistance. (do it all without indiors) if needed utilization indiors wisely. It's not necessary to use 3 indiors which inform the exact same thing. Learn 1 installation, master it. Setups are almost never complex. Always recall golden rules: 1) egy the trade, trade the egy 2) reduce your losses 3) let your profits run. Find

  5. #15
    Some of the books you see had nothing to do with Currency Market. As much as they are helpful in terms of handling money, keeping money and investing they'll help you very little when it comes to Currency Market. So read what men here urge you and then try again. If it won't work try several other books, there are hundreds and hundreds of different recommendations.

    Also there's no one right book about Currency Market, of course you may listen to men here that are advoing you some books and these books could actually made them powerful investors but allow me to give you an illuion: I'm pure TA trader, I will recommend you 10 or 20 decent books but if this disagrees with your style and you want to go with FA you may still not succeed after reading all those books!!! On the other hand I'm not able to recommend only FA book because I was not interested in it. And information like that offer unlimited combination: time period, manual/automatic, sl/tsl, markets, currencies etc.. You do have 1000 tastes when it comes to trading and some of them are causing bankruptcies to some account those have to be changed. However, some of them shifted will cause even larger disaster because you won't adapt entirely to somebody else trading fashion.

    I would also look into your plogical attachment to shedding and your abandoning demo accounts before your egy is completely tested. No matter what egy you use those are not a good practice.

    Read, practice on demo, move to small quantities, practice more, do not fight the market and have prepared entry and exit egy. Stick to the basics and good luck.

  6. #16
    Quote Originally Posted by ;
    Money Management

    McDowell - A Trader's Money Management System: How to Guarantee Profit and Prevent the Risk of Ruin.

    Essential knowledge about math and how to survive in this game. Do not fight the math! Although a lot of these very similar stuff is readily found online. Nothing new. Position sizing, risk of ruin, etc..
    I shall see this one, plus books I have awaiting to see in my small library and then I shall stop with novels, and get started using indied in here web pages.
    In about 2 weeks I shall return to demo account, and will begin it with some small amount, probably 25#. If my idea will work, then I shall change the 25 into 100# in 2 months, if not it means I need to practise, and try something else.

  7. #17
    I can recomend: smith

    At this time I am reading It will make sense so far.

    But whatever you do invest some cash on Forex Tester or utilize the free testers that exist in this forum. While the books will point you in the right direction and give you some excellent ideas, the experience obtained by having your hands dirty using the charts will raise your comprehension.

  8. #18
    Quote Originally Posted by ;
    I'll see this one, plus books I have anticipating to see in my small library and then I will stop with books, and start using suggested in here web pages.
    In about two months I will come back to demo account, and will begin it with some small amount, probably 25#. If my idea will work, then I will change the 25 into 100# in two months, if not it means I need to work out, and try something else.
    I strongly suggest doing several things at the same moment. 1) Reading books
    2) studying fxstreet or babypips forex ) analyzing markets.

    You can begin with this particular

    Master it a bit by piece and apply it right away. You know what's support and resistance? Pull up a live chart and try to obtain those zones on your own. Try to examine one or two markets. Analyze price on weekly, daily and 4 hour charts. You learn about tendencies? Again, try to test them on the very same charts. You should not trade (not on a demonion ), just examine the markets. The more you watch them, the more you understand.

    Books and websites help, but they will not make you a trader. It is like reading a book about fitness. You can read about the exercises, however you will have to actually do them to boost your fitness. Same thing with trading. Spend some time on the charts after you learn a new technique. Do it every day. Day after day.

  9. #19
    Quote Originally Posted by ;
    I strongly suggest doing a few things at precisely the exact same moment. 1) Reading novels
    2) reading fxstreet or babypips forex school 3) assessing markets.
    I really do it ;--RRB-
    1) I constantly try to read some thing about markets - distinct markets
    two ) I read babypips school
    3) I keep checking news, and data all the time for eur/usd, also prices for gold, silver, oil, indexes

  10. #20
    When I first began studying about Forex and trading in general, I waded through a lot of slop which has been a waste of time. However, I did actually enjoy the novels of Alexander Elder. Trading for a Living, Come Into My Trading Room, also Entries and Exits. He covers broad ranges of subjects which are not always focused on Forex(in actuality, he hardly touches on Forex) but technical analysis in general as well as money management and trading plogy.

    I'm still new to investing and figuring things out as I go, but I think you'll have the ability to get something useful out of his novels.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information